Godongwana tells SA to prepare for greylisting
Perhaps the clearest sign that SA will be greylisted is that government has already asked FATF to reassess SA’s compliance formally in June
Finance minister Enoch Godongwana has warned SA to prepare to join the ranks of Albania, South Sudan and Yemen, countries deemed to have inadequate antimoney laundering and terrorist financing (AML/CFT) controls.
The Financial Action Task Force (FATF), a Paris-based body that monitors countries’ efforts to comply with global AML/CFT standards, is set to decide on Friday evening whether SA will be placed on a list of countries it subjects to increased monitoring. Being added to FATF’s greylist will relegate SA to the ranks of the 23 jurisdictions it regards as having deficiencies in their regimes to counter illicit financial activity. ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.